Two former Parramatta Eels players are accused of harbouring semi-automatic weapons and possessing more than half-a-million dollars in cash after dramatic arrests in Sydney's Centennial Park yesterday.

All the characters and colour from the Melbourne Cup

The team behind Melbourne Cup winner Rekindling are no doubt waking up on top of the world this morning, but there are many Aussies who will feeling a tad worse for wear after partying a little too hard at the race that stops a nation.

Flemington racecourse may also need a day or two to recover, after thousands descended on the hallowed grounds to take a punt, or more likely, crack a bottle of bubbly.

The punters packed out Flemington from 8.30am. (AAP)Some outfits were more involved than others. (AAP)Colourful get-ups ruled the racecourse. (AAP)

Racegoers from all walks of life queued for bottles of Yellowglen, cans of Furphy beer and even frozen cocktails despite the unseasonable spring temperatures.

The revellers went wild, as was evident with many who attempted to speak to A Current Affair’s Martin King.

Race day scored a thumbs-up. (AAP)A woman flings a blanket around herself amid the festivities. (AAP)Even Disney princesses made an appearance. (AAP)High kicks and high frivolities. (AAP)

Most were happy to have their five seconds of fame, but many tried to take over as reporter, trying their luck with the microphone as well as with the bookies.

One man surveys the mess in the outer. (AAP)Another man appears to bask in it. (AAP)Others stole a quiet moment. (Getty)(AAP)Some were offered a helpful hand. (AAP)

It was all in good fun though, as Aussies united to watch the first horses break out of the gates for the Melbourne Cup.

Men and women were screaming at the top of their lungs for their horse to run faster.

Officers did tell reporters a small group of refugee advocates put the lives of Melbourne Cup revellers at risk when they staged protests near Flemington.

The group drove Ford Laser across tracks at Ascot Vale, deflated its tyres and bolted a woman to the steering wheel, causing train delays ahead of the main race, before being removed as the woman was arrested, police said.